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IRB Brasil Re

IRB Brasil Re, Aon launch tool to help analyse pandemic risk exposure

26th May 2020

Brazilian reinsurer IRB Brasil Re is partnering with Aon Resseguros on a tool that allows insurers to analyse the risk exposure of their life and home insurance portfolios and technically estimate possible losses with claims. The analysis will also enable shaping custom-designed coverage products for the pandemic, meeting the expectations of ... Read the full article

IRB Brasil Re eyeing competitors’ LatAm portfolios: Reports

22nd May 2020

It’s believed Brazilian reinsurer IRB Brasil Re is in advanced talks with rivals across Latin America as the firm looks to buy up portfolios and strengthen its position in the region. Reuters, citing two sources close to the reinsurer, says the move is an attempt to capitalise on decisions by rivals ... Read the full article

IRB Brasil Re delays release of Q1 results amid COVID-19

5th May 2020

IRB Brasil Resseguros SA (IRB Brasil Re) has announced that it has postponed the release of its first-quarter 2020 financial results amid the ongoing impacts of the COVID-19 coronavirus pandemic. In an announcement to its shareholders and the market, the Chief Financial and Investor Relations Officer of the Rio de Janeiro-based ... Read the full article

IRB Brasil Re withdraws profit guidance due to COVID-19

24th April 2020

Rio de Janeiro headquartered reinsurer IRB Brasil Resseguros SA (IRB Brasil Re) has decided to withdraw its profit guidance for 2020, due to the coronavirus (COVID-19) pandemic. The company said the move reflected the “current market conditions and the uncertainties of the magnitude of the impacts resulting from the coronavirus in ... Read the full article

IRB Brasil Re Board members resign amid “serious impacts” of COVID-19 crisis

22nd April 2020

Rio de Janeiro headquartered reinsurer IRB Brasil Resseguros SA (IRB Brasil Re) has announced that certain members of its Board of Directors have resigned amid the impacts of the COVID-19 coronavirus pandemic. On April 20th, 2020 the reinsurer received the resignations of Vinicius Jose Almeida Albernaz and Alexsandro Broedel Lopes from ... Read the full article

IRB Brasil Re names incoming Chairman interim CEO

16th March 2020

Brazilian reinsurer IRB Brasil Resseguros SA (IRB Brasil Re) has revealed that its Board of Directors unanimously resolved to elect the reinsurer's Chairman, Antonio Cassio dos Santos, as interim Chief Executive Officer (CEO) of the company. Earlier this month, Antonio Cassio dos Santos was appointed Chairman of the company's Board by ... Read the full article

AM Best places IRB Brasil Re under review with negative implications

9th March 2020

Ratings agency AM Best has placed under review with negative implications the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” of IRB-Brasil Resseguros S.A. (IRB Brazil Re). The decision comes after President José Carlos Cardoso and CFO Fernando Passos submitted their resignations to the ... Read the full article

IRB Brasil Re leaders resign amid Berkshire confusion

5th March 2020

Brazilian reinsurer IRB Brasil Resseguros SA (IRB Brasil Re) has replaced its President and Chief Financial Officer (CFO) after confusion about a possible investment by Berkshire Hathaway caused the company’s shares to plummet by 32%. President José Carlos Cardoso and CFO Fernando Passos submitted their resignations to the Board on March ... Read the full article

IRB Brasil Re boosts income by 45% in 2019

20th February 2020

Brazilian reinsurer IRB Brasil Resseguros SA (IRB Brasil Re) has announced that its net income increased 45% to 1.764 billion reais (US $400 million). Up from 1.219 billion reais in 2018, the result marks several years of consistently improving performance for the company. The fourth quarter of 2019 was by far the ... Read the full article

IRB Brasil Re continues to dominate Brazilian reinsurance market

26th September 2019

Brazilian reinsurer IRB Brasil Resseguros SA (IRB Brasil Re) continues to dominate the market in its home country, controlling around 33.1% of the market share. Data from Terra Brasis Resseguros (Terra Brasis Re) broke down the rankings for reinsurers operating in Brazil for the 12 months ending June 30, 2019. Brazilian companies ... Read the full article

IRB Brasil Re to take 8.93% stake in B3i for €3.5mn

6th August 2019

Brazilian reinsurer IRB Brasil Re has announced that it is looking to acquire an 8.93% stake in the Blockchain Insurance Industry Initiative (B3i) for €3.5 million (USD 3.9 million). The announcement was made by the company's Deputy Chief Executive Officer (CEO), Chief Financial Officer (CFO) and Director of Investor Relations, Fernando ... Read the full article

IRB Brasil Re raises $2bn in secondary share offering

19th July 2019

Brazilian reinsurer IRB Brasil Resseguros SA (IRB Brasil Re) has said that shareholders BB Seguridade Participações and the Brazilian Treasury raised 7.4 billion reais (US $1.99 billion) in a planned share offering yesterday. IRB Brasil Re set the price per share at 88 reais ($23.54) in the secondary share offering, according ... Read the full article

IRB Brasil Re confirms $2.3bn share offering

11th July 2019

Brazilian reinsurer IRB Brasil Resseguros SA (IRB Brasil Re) has confirmed that shareholders BB Seguridade Participações and the Brazilian Treasury are set to sell their stakes next week in a share offering valued at 8.5 billion reais (US $2.3 billion). The pricing of the secondary share offering is expected to occur ... Read the full article

A.M. Best upgrades credit ratings of IRB Brasil Re

31st May 2019

Rating agency A.M. Best has upgraded the financial strength rating of Brazilian reinsurance firm IRB Brasil Resseguros S.A. to A (Excellent) from A- (Excellent), due to the company’s improved financial strength. The reinsurer’s long-term issuer credit rating was also upgraded from “a-“ to “a”, and the outlook of its credit ratings ... Read the full article

IRB Brasil Re announces $673mn secondary share offering

15th February 2019

Brazilian reinsurance firm IRB Brasil Re has announced a secondary share offering that is expected to raise around 2.5 billion reais ($673.27 million). The company has now confirmed reports from sources at Reuters earlier this month, who said that a government fund managed by state-run bank Caixa Economica Federal was ... Read the full article

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